Duckwall-ALCO in search for new CFO

July 19th, 2010

ABILENE, Kan. – Duckwall-ALCO Stores Inc. is conducting a national search for a new chief financial officer with the pending resignation of its current CFO, Donny Johnson, next month.

The regional broadline retailer, which caters to smaller, underserved communities, said late last week that Johnson, who holds the title of executive vice president and CFO, plans to resign effective Aug. 13.

Duckwall-ALCO said it hopes to announce a replacement for Johnson soon.

Johnson joined the chain in August 2007 and had even served as interim chief executive officer for several months in 2008. He has resigned to accept a position with a privately held company near Tahlequah, Okla., according to Duckwall-ALCO.

"Donny has made an exceptional contribution to the company over the past three years," Rich Wilson, Duckwall-ALCO's president and CEO, said in a statement. "Our balance sheet is strong, and our financial systems and processes are sound. We are sorry to see Donny go, but we recognize he and his family are eager to return to their home state of Oklahoma and to be closer to their family. We certainly wish him well."

Duckwall-ALCO operates 256 stores in 23 states, primarily in the central United States.